Although the government cancelled the requirement, resilience disclosures ‘cannot be wasted effort’, says senior auditco chair.
Government legislative agenda sees FRC reduce governance code revisions, but declaration on controls survives the cull.
Implementing managed shared audit would put a burden on audit committees, a recent panel discussion concluded.
Long-awaited legislation to create a new audit and governance watchdog may not see light until after the election, says news report.
The detail of the new regulations has been fleshed out—and could catch many more companies than expected.